Founded in 1991, CIWL is developing a portfolio of infrastructure projects in some of the fastest-growing regions in the People's Republic of China (the "PRC") and is seeking to become a leading water company in the PRC.

CIWL is incorporated as an exempted company with limited liability under the laws of Bermuda.

Notes that have already been validly tendered and are not withdrawn prior to the New Expiration Date and that are accepted for purchase by CIWL pursuant to the Offer will be purchased at the increased price plus accrued but unpaid interest, including Special Interest, subject to satisfaction of the conditions set forth in the Offer to Purchase.

CIWL has been informed by Deutsche Bank Trust Company Americas, the depositary for the Offer (the "Depositary") that, as of 5:00 p.

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